Medical Properties Trust (MPW) 10-Q 2008 Q1 Quarterly report

Exhibit 99.1
Unaudited

PRIME HEALTHCARE SERVICES, INC.
CONSOLIDATED FINANCIALS
BALANCE SHEET AS OF September 30, 2007

CURRENT ASSETS
Cash and Cash Equivalents	$	31,786,598
Accounts Receivable		355,462,224
Allowance for Bad Debts		(30,458,790	)
Alowance for Contractuals		(257,289,498	)
Net Accounts Receivable		67,713,936
Other Receivables		14,513,118
Inventories		3,000,910
Prepaid Expenses and Other		18,467,599
Total Current Assets		135,482,161
PROPERTY AND EQUIPMENT
Land and Land Improvements		—
Buildings and Bldg. Improvements		519,917
Leasehold Improvements		5,166,325
Equipment		65,051,676
Construction in Progress		10,527,535
Total Property and Equipment		81,265,453
Accumulated Depreciation		(25,038,078	)
NET PROPERTY & EQUIPMENT		56,227,375
LONG TERM ASSETS
Long Term Notes		10,000,000
Deposits		411,565
Other LT Assets		22,191,757
Total Long Term Assets		32,603,322
TOTAL ASSETS	$	224,312,858

CURRENT LIABILITIES
Accounts Payable	$	24,530,646
Accrued Payroll		17,878,184
Notes Payable		5,801,586
Other Accrued Liabilities		7,419,013
IBNR		3,974,897
Due to (From) Fiscal Intermediaries		7,523,138
Line of Credit		—
Current Portion Long Term Debt		6,221,673
Total Current Liabilities		73,349,137
LONG TERM LIABILITIES
Capital Leases		506,869
Other Loans		16,429,752
Other Long Term Liabilities		12,248,587
Total Long Term Liabilities		29,185,208
Total Inter-Co Payable / (Receivable)		—
TOTAL DUE TO/(FROM) RELATED ENTITIES		10,949,672
Total Liabilities		113,484,017
EQUITY
Paid In Capital		8,353,701
Retained Earnings		105,845,103
Distribution		(64,844,882	)
Current Year Earnings / (Loss)		61,474,919
Total Equity		110,828,841
		—
TOTAL LIABILITIES AND EQUITY	$	224,312,858

Unaudited

PRIME HEALTHCARE SERVICES, INC.
CONSOLIDATED FINANCIALS
INCOME STATEMENT AS OF SEPTEMBER 30, 2007

REVENUE
NET PATIENT REVENUE	471,323,018
CAPITATION REVENUE	21,463,665
OTHER REVENUE	11,554,161
TOTAL OPERATING REVENUE	504,340,844
OPERATING EXPENSES
COMPENSATION AND EMPLOYEE BENEFITS	213,605,675
PROVISION FOR DOUBTFUL ACCOUNTS	78,696,909
GENERAL AND ADMINISTRATIVE	77,392,573
MEDICAL SUPPLIES	28,078,414
PROFESSIONAL FEES	32,605,348
DEPRECIATION / AMORTIZATION	4,509,755
MEDICAL CLAIMS	4,366,425
TOTAL OPERATING EXPENSES	439,255,098
NET OPERATING INCOME (LOSS)	65,085,747
INTEREST	2,702,299
PRE-TAX INCOME (LOSS)	62,383,448
INCOME TAX EXPENSE	908,529
NET INCOME (LOSS)	61,474,919

Unaudited

PRIME HEALTHCARE SERVICES, INC.
CONSOLIDATED FINANCIALS
STATEMENT OF CASH FLOWS AS OF SEPTEMBER 30, 2007

Cash Flow From Operations:
Net Income	$	61,474,919
Depreciation		4,336,973
Amortization		0
Minority Interest		0
(Inc)/Dec in A/R		(14,316,409	)
(Inc)/Dec in Inventory		(767,296	)
(Inc)/Dec in Prepaids		9,453,434
(Inc)/Dec in Other Receivables		(12,613,161	)
Inc/(Dec) in Payroll Payables		11,630,366
Inc/(Dec) in Accrued Payables		5,991,395
Inc/(Dec) in IBNR		(4,984,191	)
Inc/(Dec) in Other Liabilities		(1,028,302	)
Inc/(Dec) in Fiscal Inter		4,882,948
Inc/(Dec) in Other Acc Exp		0
Total Cash From Operations		64,060,676
Cash Flow From Investing
Capital Expenditures		(29,519,083	)
Pmts to Acquire Other Assets		0
Total Cash From Investing		(29,519,083	)
Cash Flow From Financing
Funds Provided (to) from Related Party		6,236,248
Distributions to Share Holders		(64,844,882	)
Shareholder Contrbution		0
Borrow (Repayment) of Debt		42,057,809

Unaudited

(Repayment) of Capital Leases		(188,557	)
Net Proceeds From Owners Contribution		0
Pmt for Acquisition		0
Total Cash Flow From Financing/Dist		(16,739,382	)
Total Cash Flow		17,802,211
Beginning Cash Balance		13,984,387
Ending Cash Balance	$	31,786,598